Newsquest journalists have voiced concerns over the uncertainty posed by a hostile takeover bid for the regional publisher’s American parent company.
As previously reported, the US-based Media News Group has launched a battle to buy Gannett, which is also headquartered in America.
Earlier this week Gannett sent a letter to its shareholders calling on them to reject MNG’s attempt to seize control of its board at the company’s annual meeting on 16 May.
National Union of Journalists bosses say the would-be buyers have “ominously ignored” the UK side of the business and fear it could be sold-off if MNG gains control.
Federica Bedendo, Newsquest group chapel MoC, says Newsquest journalists in the UK have been left with “little confidence for our future” as a result of the battle across the Atlantic.
She said: “Our members are already under an incredible amount of pressure – we work in understaffed newsrooms and are paid poverty wages.
“To hear this toing and froing between Gannett and MNG without a single mention of Newsquest and what might happen to it after the AGM leaves us with very little confidence for our future.
“Even Gannett thinks MNG is bad news for local papers. The last thing we need is uncertainty for jobs and the future of local journalism.”
Chris Morley, pictured, NUJ Northern and Midlands senior organiser, said: “As the board of Gannett trade blows with those pushing for the company’s hostile takeover, the massive empty space in the war of words is what either plans for Newsquest on the other side of the crucial AGM votes.
“This is especially true of the MNG side that has expended a good deal of time trashing Gannett directors’ stewardship of the company, but its narrative ominously ignores the UK business that provides 10 per cent of total group income and supports more than 800 journalists in this country.”
Newsquest has declined to comment.
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What has Gannett done for Newsquest papers? Pick up a copy of your local NQ paper to see.
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Does this mean that the NUJ and the Newsquest chapel would really rather stick with Gannett?
“The last thing we need is uncertainty for jobs” says the FoC. Well, given NQ track record for job slashing almost every week, it can’t be more uncertain than it already is.
Take your chances with a new owner, assuming there is a sell-off in the first place
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If the new owner is MNG and it sells Newsquest, that might mean the break up of the group. One could hope. However, MNG would be unlikely to want to sell its newspapers piecemeal – groups like this only think of selling off whole sectors at a time because it’s easier – but who in today’s UK scene could afford the whole group? Certainly not JPi, probably not Reach because it’s overstretched itself already, so who?
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